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Add You - How Many Ways Are There To Grow Any Business?
Power Teams work well when there is an element of trust and integrity. Holding the information for a project is certainly one of those areas where trust is prominent. No one should own the information but all need to have unlimited access to it. Even then, the information needs to be stored and there should be only one or two administrators
When doing medical billing, a lot of information needs to be transmitted. So far in this series we have covered information that identifies the provider of services and the patient. Now, we have to cover information that identifies the insurance carrier the claim is actually going to. While this may seem unnecessary, since the person rec
That’s right! There are 3 and only 3 ways you can grow your business and they are…
1. Getting more customers.
2. Increasing the size of transaction per sale.
3. Increasing the frequency of purchase per customer.
Now that makes growing your business a whole lot simpler doesn’t it!
Most people in business are constantly running around trying to get new customers into their business without trying the other 2 ways. Getting more customers is fine but it’s probably the most expensive and time-consuming way to grow a business!
Increasing the size of transaction per sale is very easy to accomplish. You simply offer the customer more products or services when they want to buy. Say, for example, you’re selling a mobile phone to a customer you’d offer them a leather case, a memory card, a car-kit, extended warranty, etc. You’ve just increased the size of the transaction buy a large amount and you’ve provided a much greater service to your customer’s lives! Instead of selling a mobile phone for ?80 you’ve just made an extra ?40 from the additional products and it only took 5 minutes!
Increasing the frequency of purchase is another very simple and very effective method to grow your business and if you master this you should never worry about going out of business ever again! The best way to make my point is an example.
Say you run a computer store and a new customer walks in the door wishing to buy a computer. You sell them a computer that is just right for his/her needs and you also sell them a quarterly health-check for ?40 every 3 months. This has just added ?160 every year from the customer and any other customer who purchases the service. They come in for the health check every 3 months, browse around the store and also buy additional products from you. Now because you’re keeping th
It's amazing how advertising has so drastically changed in the last couple of years. The advent of DVRs and online content has completely changed the advertising landscape. Advertisers are pressured to come up with new ways to capture eyeballs. Advertising has become more creative, more edgy, and more memorable. The YouTube category for adv
3. Increasing the frequency of purchase per customer.
Now that makes growing your business a whole lot simpler doesn’t it!
Most people in business are constantly running around trying to get new customers into their business without trying the other 2 ways. Getting more customers is fine but it’s probably the most expensive and time-consuming way to grow a business!
Increasing the size of transaction per sale is very easy to accomplish. You simply offer the customer more products or services when they want to buy. Say, for example, you’re selling a mobile phone to a customer you’d offer them a leather case, a memory card, a car-kit, extended warranty, etc. You’ve just increased the size of the transaction buy a large amount and you’ve provided a much greater service to your customer’s lives! Instead of selling a mobile phone for ?80 you’ve just made an extra ?40 from the additional products and it only took 5 minutes!
Increasing the frequency of purchase is another very simple and very effective method to grow your business and if you master this you should never worry about going out of business ever again! The best way to make my point is an example.
Say you run a computer store and a new customer walks in the door wishing to buy a computer. You sell them a computer that is just right for his/her needs and you also sell them a quarterly health-check for ?40 every 3 months. This has just added ?160 every year from the customer and any other customer who purchases the service. They come in for the health check every 3 months, browse around the store and also buy additional products from you. Now because you’re keeping t
“Must Project Managers be technically savvy?” This topic always seems to cause quite a stir. While some believe that all you need to manage a project is a PMP certification, others are convinced that you can't successfully manage a software development project unless you truly understand the intricacies of the product.I agree! To be
Increasing the frequency of purchase is another very simple and very effective method to grow your business and if you master this you should never worry about going out of business ever again! The best way to make my point is an example.
Say you run a computer store and a new customer walks in the door wishing to buy a computer. You sell them a computer that is just right for his/her needs and you also sell them a quarterly health-check for ?40 every 3 months. This has just added ?160 every year from the customer and any other customer who purchases the service. They come in for the health check every 3 months, browse around the store and also buy additional products from you. Now because you’re keeping t
Golf tournaments have become a very popular way for charity to raise money. Probably the number one reason why most companies support a tournament is an affinity for the cause. But in addition to supporting a worthy cause, golf tournament sponsorship represents an opportunity for effective advertising. This article contains some anecdotal e
Increasing the frequency of purchase is another very simple and very effective method to grow your business and if you master this you should never worry about going out of business ever again! The best way to make my point is an example.
Say you run a computer store and a new customer walks in the door wishing to buy a computer. You sell them a computer that is just right for his/her needs and you also sell them a quarterly health-check for ?40 every 3 months. This has just added ?160 every year from the customer and any other customer who purchases the service. They come in for the health check every 3 months, browse around the store and also buy additional products from you. Now because you’re keeping t
You've landed a new job and finally decided on the perfect outfit for your first day of work. Now it's time to sit back, put your feet up on your new desk, and relax, right? Wrong. Instead of settling into new-job complacency like so many of your peers, take some time early on to ensure long-term career success with these simple steps.<
Now this is the best part! What would happen if you increased each way to grow a business by mere 10%? Your company doesn’t grow by 10% but a staggering 33.3% for a simple 10% increase across the board! Just think what would happen if you increased each category by 30%!
Thanks for reading and remember, get more customers buying more things more often and your business growth will literally explode!
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